The German Bundesbank has recently released an interesting report on the role of banks, non-banks, and the central bank in the money creation process. The majority of the analysis of the report is good. However, the conclusions drawn from the report by news outlets and the blogosphere are misleading.
Positive Money’s submission to the Treasury Select Committee on the effectiveness and impact of post-2008 UK monetary policy
The House of Commons Treasury Select Committee is undertaking a landmark inquiry into monetary policy. Our aim is to persuade the committee to acknowledge monetary policy’s bad side-effects and to consider the benefits of fairer and more sustainable monetary policy tools. With this in mind, we coordinated a joint letter from over 40 leading economists, as well as a statement from nearly 10,000 people.
Yesterday, the United Nations held a high-level conference on how to finance the Sustainable Development Goals (SDGs). We have therefore come up with some rough ideas on how central banks could help partially fund some of these goals.
Around 1 in 10 people taking out a loan in Britain do so simply to make ends meet. The market for these loans is extremely unfair – and this is not coming from a consumer pressure group but from one of the bigger banks, TSB.